Realtors from across the metro area gathered on Wednesday to apologize for discrimination in real estate. The group also vowed to make changes to correct racial disparities in homeownership.
Denise Mazone is the first Black president of the Minneapolis Area Realtors, and she said the group has a long way to go to make up disparities among Black and white home ownership.
"We have one of the largest homeownership gaps in the country," Mazone said. "Not only do we regret the industry's role in that, but we also know that we must do something to change that."
According to the group, Black Minnesotans have a homeownership rate that is 50% lower than white Minnesotans. The group also said that the gap has only grown since the 1950s.
"Our apology and efforts to engage in policy change are overdue and are important steps for us because of the deep and lasting impact our actions have had on people of color in Minnesota, especially Black Minnesotans," Mazone said in a press release.
The group announced four major policy changes they hope will lead to more equitable homeownership opportunities.
"Shame and sincerity alone don't create meaningful change," Mazone said. "We're committed to making strides at the local, state, and national level around policies and practice."
Jackie Berry, the MAR board director, chair of MAR's Diversity, Equity, and Inclusion Committee, and chair of the task force that spearheaded the apology and policy ideas, said the changes are being considered. They include changes to training for realtors, recruitment of more minority realtors, and lobbying for a federal down payment assistance program for first-time buyers.
"We clearly have not done enough to rid the real estate industry of the systemic issues that are preventing us from staying true to our commitment to fair housing for all," Berry said in a statement.
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